Suncor Energy (NYSE:SU) Upgraded to “Buy” at Desjardins

Suncor Energy (NYSE:SU) (TSE:SU) was upgraded by stock analysts at Desjardins from a “hold” rating to a “buy” rating in a report released on Thursday,Briefing.com Automated Import reports.

Several other brokerages have also recently issued reports on SU. TD Securities upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th. BMO Capital Markets raised Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 7th. Finally, Wolfe Research assumed coverage on Suncor Energy in a research note on Thursday, July 18th. They set an “outperform” rating and a $68.00 price objective for the company. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $56.40.

Suncor Energy Stock Up 3.9 %

Shares of SU stock opened at $39.61 on Thursday. Suncor Energy has a 1 year low of $29.45 and a 1 year high of $41.94. The stock has a market cap of $49.98 billion, a PE ratio of 8.63, a price-to-earnings-growth ratio of 2.70 and a beta of 1.12. The business’s fifty day moving average is $38.27 and its 200-day moving average is $38.74. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.93 and a current ratio of 1.46.

Institutional Trading of Suncor Energy

Several hedge funds and other institutional investors have recently modified their holdings of SU. Toronto Dominion Bank boosted its position in Suncor Energy by 59.7% during the first quarter. Toronto Dominion Bank now owns 17,606,934 shares of the oil and gas producer’s stock valued at $649,872,000 after purchasing an additional 6,580,260 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Suncor Energy by 90.9% during the second quarter. Assenagon Asset Management S.A. now owns 8,299,876 shares of the oil and gas producer’s stock valued at $316,226,000 after purchasing an additional 3,951,287 shares during the last quarter. National Bank of Canada FI boosted its position in Suncor Energy by 60.7% during the second quarter. National Bank of Canada FI now owns 8,661,861 shares of the oil and gas producer’s stock valued at $328,876,000 after purchasing an additional 3,272,896 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Suncor Energy by 23.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,695,560 shares of the oil and gas producer’s stock valued at $357,827,000 after purchasing an additional 1,829,936 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its position in Suncor Energy by 305.9% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,725,000 shares of the oil and gas producer’s stock valued at $63,687,000 after purchasing an additional 1,300,000 shares during the last quarter. Institutional investors and hedge funds own 67.37% of the company’s stock.

About Suncor Energy

Suncor Energy Inc operates as an integrated energy company in Canada, the United States, and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment explores, develops, and produces bitumen, synthetic crude oil, and related products.